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Guernsey Funds Forum to hear of new Manager Led Product

Attendees at this year’s Guernsey Funds Forum will have the opportunity to learn more about the proposed introduction of Guernsey’s new Manager Led Product (MLP).

The MLP aims to ensure a proportionate risk-based level of product regulation for any Alternative Investment Fund Manager (AIFM) that establishes itself in Guernsey and seeks to market into Europe under the National Private Placement Regime (NPPR) arrangements.  The introduction of the MLP would place the regulations on the AIFM only. Representatives from the Guernsey Financial Services Commission (GFSC) will be in attendance at the Funds Forum to discuss the proposed regime in greater detail and to answer any questions fund managers may have.

Guernsey Finance Chief Executive Dominic Wheatley says the proposed introduction of MLP is an exciting development.

“The MLP has come about through discussions between the GFSC and industry practitioners,” he says. “The main attraction is that the MLP will allow one AIFM to absorb all the incidence of conduct and capital adequacy rules, permitting many fund structures – whether limited partnerships or other – to exist under its banner. The fact that we will have representatives from the GFSC at the event to answer any questions that people may have is a very positive step.”

The annual event, which this year is titled: ‘The new scope – investor perspectives, innovation and success’, takes place on Thursday 12 May at etc. venues, 155 Bishopsgate in London. The keynote speaker is Luke Johnson, Chairman of private equity house Risk Capital Partners and former Chairman of Channel 4 Television.

The event, which last year attracted more than 500 delegates, will be moderated for the seventh successive year by ITV News anchor, Alastair Stewart OBE. There will also be two panel sessions with speakers including Kate Simpson from Proskauer, Tim Hughes from PwC, Robin Klein from Localglobe, Blaise Duault from PAI Partners, Bernard Vogel from Endeavour Vision, Phillip Hyett from Funding Circle, Adam Black from Coller Capital, Aaron Stocks from Travers Smith and Duncan MacPherson from Starwood Capital Europe.

The first panel session will look at innovation in the funds arena including a focus on how to access credit in the current climate, whether alternatives have become the new mainstream and if de-risking should be regarded as an opportunity or a threat. 

The second session will highlight investor perspectives including a focus on ESG investment, tax transparency, data aggregation and asset owners, as well as consider cyber risks and investor portals and whether the depositary should be seen as a ‘value-add’ or a burden.

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